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Luberef net profit falls 7% in Q1

A fall in by-products sales leads to profit dip.

SABIC net loss $322 million

The company's net profit was $66m in Q1 2024

PureHealth posts $137m Q1 net profit

The Group's revenue increased 8 percent YoY.

Borouge Q1 net profit $281 million

The total dividend paid to shareholders in 2024 $1.3bn.

Emirates expects first 777X delivery in H2 2026

Boeing had pushed back the first delivery to 2026 from 2025.
  • $1.68 billion weeklong realty deals recorded in Dubai

    DUBAI: Real estate and property transactions worth AED 6.2 billion were recorded in Dubai during the week ending Thursday. Dubai...

    The most expensive plot of land sold for AED33 million in Hadaeq Sheikh Mohammed Bin Rashid.

    Jabal Ali First recorded the most transactions for this week by 75 sales transactions worth AED315 million.

  • Facebook may launch digital wallet

    The wallet, Novi, would let users store cryptocurrencies.

    Facebook said in 2019 it planned to introduce a cryptocurrency called Libra, which changed its name to Diem in 2020 after facing regulatory resistance.

    Company says it would have preferred to release Novi alongside Diem, but the latter's timing was uncertain.

  • Majid Al Futtaim secures $1.5bn SLL

    Women to form 30 percent of board members under agreement.

    The revolving credit facility is the largest in the MENA region.

    Company also plans to have all its malls certified LEED Gold or better.

  • Disney, Delta, Big Tech dampen movie theater party at CinemaCon

    After a year-and-a-half of big film releases placed on hold due to Covid, the CinemaCon trade summit has seen studios...

    After a year-and-a-half of big film releases placed on hold due to Covid, the CinemaCon trade summit has seen studios show off a glut of forthcoming blockbuster offerings

    But beneath the talk of theatrical renaissance is a great deal of uncertainty -- highlighted by the absence from Caesars Palace of Disney

  • Qatar gets first batch of Boeing F-15 fighter jets

    They were produced by the United States and Boeing in partnership with Qatar itself.

    The rollout took place on Wednesday in a ceremony at Boeing’s headquarters in the US state of Missouri

    Qatar’s Minister of State for Defense Affairs Khalid bin Mohamed Al Attiyah was in attendance

  • Saudi Arabia taps Alibaba to help Chinese tourists

    Alibaba Cloud is expected to help promote Saudi Arabia as a tourist destination to travelers in the Chinese market.

    The deal establishes the framework for a collaborative arrangement for Chinese tourists traveling to Saudi Arabia

    The agreement is part of Saudi Arabia’s strategy to employ the latest technology to deliver seamless traveler experiences

  • Siemens hydrogen plant in Egypt

    Siemens Energy expects to kickstart the hydrogen industry in Egypt.

    Siemens Energy and EEHC will pursue the development of a pilot project, comprising 100-200 MW of electrolyzer capacity

    This is will drive early technology deployment, establish a partner landscape, and set up off-take relations, among other things

  • ACME ammonia plant in Oman

    The plant will cost of $3.5 billion and be built in three years.

    The plant will be an integrated facility using 3 GWp of solar and 0.5 GWp of wind energy

    This will be used to produce 2,400 TPD of green ammonia with an annual production of 0.9 million tons

  • GCC hotel industry readies for a comeback

    The Gulf hotel sector's investments, according to reports, have reached $27 billion. New hotel projects worth $3.5 billion in the...

    Hotel licenses in Saudi Arabia can now be obtained in just 10 days.

    Until March 2021, UAE had 1096 hotels with 181.3 thousand rooms.

  • Visa signs MoU with AMF

    They will explore ways to boost cross-border payments.

    Visa and AMF’s regional payment platform will design optimal solutions to unlock sustainable opportunities in payment industry.

    Visa said the MoU reinforces its commitment to support the evolution of the Arab region and the vital role digital payments plays in this sphere.

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